surety


surety
sure·ty /'shu̇r-ə-tē/ n pl -ties [Anglo-French seurté, literally, guarantee, security, from Old French, from Latin securitat- securitas, from securus secure]
1: a formal engagement (as a pledge) given for the fulfillment of an undertaking
2: one (as an accommodation party) who promises to answer for the debt or default of another
◇ At common law a surety is distinguished from a guarantor by being immediately liable as opposed to becoming liable only upon default of the principal. Under the Uniform Commercial Code, however, a surety includes a guarantor, and the two terms are generally interchangeable.

Merriam-Webster’s Dictionary of Law. . 1996.

surety
I (certainty) noun absolute confidence, absoluteness, affirmance, affirmation, aplomb, ascertainment, asseveration, assurance, assuredness, averment, avowal, avowance, certain knowledge, certification, certitude, complete conviction, confirmation, contract, conviction, convincement, declaration, definiteness, determination, earnest averment, earnest avowal, earnest declaration, firmness, guaranty, hardihood, persuasion, positiveness, pronouncement, reassurance, reliance on, self-assurance, self-conviction, solemn averment, solemn avowal, solemn declaration, sureness, unequivocalness, unmistakableness, unquestionableness, vow, warrant II (guarantor) noun attester, backer, certifier, confirmer, consignee, endorser, financer, indemnitor, insurer, promisor, ratifier, signatory, signer, sponsor, subscriber, supporter, underwriter, voucher, warrantor associated concepts: surety bond, surety company, surety insurance, surety of the peace foreign phrases:
- In veram quantitatem fidejussor teneatur, nisi pro certa quantitate accessit. — A surety should be held for the true quantity, unless he agreed for a certain quantity
- Natura fide jussionis sit strictissimi juris et non durat vel extendatur de re ad rem, de persona ad personam, de tempore ad tempus. — The nature of a suretyship is one of strictest law and cannot endure or be extended from one thing to another, from one person to another, or from one time to another
III index accommodation (backing), assurance, bail, bond, certainty, certitude, confidence (faith), coverage (insurance), credence, deposit, down payment, faith, guaranty, insurer, recognizance, safeguard, security (pledge), sponsor, warrant (guaranty)

Burton's Legal Thesaurus. . 2006


surety
n.
A person who takes responsibility for someone else’s debt, agreeing to pay it if the debtor fails to do so, usually bound by the same original instrument as the debtor and thus responsible for the debt from its inception. See also guarantee

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


surety
a guarantor of another's obligation.

Collins dictionary of law. . 2001.


surety
A person who agrees to be responsible for another's debt or obligation, such as a bonding company that posts a bond for a building contractor. Unlike a guarantor (who is liable to creditors only if the debtor fails to perform) a surety is directly liable.
Category: Business, LLCs & Corporations
Category: Real Estate & Rental Property
Category: Small Claims Court & Lawsuits

Nolo’s Plain-English Law Dictionary. . 2009.

surety
A person who offers security for the payment of a debt or the performance of an obligation. A surety is often a third party to the main arrangement dealing with the debt or obligation, but the term may also apply to a borrower that has provided security, depending on the context.
A surety may sometimes be referred to as a guarantor.
Related links
Bonds, guarantees and standby credits: overview

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


surety
n. The person immediately responsible for the debt of another, in the event that the principal fails to meet his responsibility.

Webster's New World Law Dictionary. . 2000.


surety
An individual who undertakes an obligation to pay a sum of money or to perform some duty or promise for another in the event that person fails to act.

Dictionary from West's Encyclopedia of American Law. 2005.


surety
An individual who undertakes an obligation to pay a sum of money or to perform some duty or promise for another in the event that person fails to act.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

surety
n.
   a guarantor of payment or performance if another fails to pay or perform, such as a bonding company which posts a bond for a guardian, an administrator or a building contractor. Most surety agreements require that a person looking to the surety (asking for payment) must first attempt to collect or obtain performance from the responsible person or entity.
   See also: bond, guarantor

Law dictionary. . 2013.

Synonyms:

Look at other dictionaries:

  • Surety — Sure ty, n.; pl. {Sureties}. [OE. seurte, OF. se[ u]rt[ e], F. s[^u]ret[ e]. See {Sure}, {Security}.] 1. The state of being sure; certainty; security. [1913 Webster] Know of a surety, that thy seed shall be a stranger in a land that is not theirs …   The Collaborative International Dictionary of English

  • Surety — Sure ty, v. t. To act as surety for. [Obs.] Shak. [1913 Webster] …   The Collaborative International Dictionary of English

  • surety — c.1300, from O.Fr. seurté, from L. securitatem (nom. securitas) freedom from care or danger, safety, security, from securus (see SECURE (Cf. secure)). Until 1966, the Fr. national criminal police department was the Sûreté nationale …   Etymology dictionary

  • surety — 1 security, bond, *guarantee, guaranty, bail Analogous words: *pledge, earnest, token, hostage, pawn 2 guarantor, *sponsor, backer, patron, angel …   New Dictionary of Synonyms

  • surety — ► NOUN (pl. sureties) 1) a person who takes responsibility for another s performance of an undertaking, e.g. the payment of a debt. 2) money given as a guarantee that someone will do something. 3) the state of being sure …   English terms dictionary

  • surety — [shoor′ə tē, shoor′tē] n. pl. sureties [ME seurte < OFr < L securitas < securus, sure, SECURE] 1. the state of being sure; sureness; assurance 2. something sure; certainty 3. something that makes sure or gives assurance, as against loss …   English World dictionary

  • Surety — A surety is a person who agrees to be responsible for the debt or obligation of another. Furthermore, a surety is also a security against loss or damage or for the fulfillment of an obligation, the payment of a debt, etc.; a pledge, guaranty, or… …   Wikipedia

  • surety — One who at the request of another, and for the purpose of securing to him a benefit, becomes responsible for the performance by the latter of some act in favor of a third person, or hypothecates property as security therefor. One who undertakes… …   Black's law dictionary

  • surety — Generally the same as guarantor; however, in some states there are important distinctions. American Banker Glossary An individual or corporation that guarantees the performance or actions of another. Bloomberg Financial Dictionary * * * surety… …   Financial and business terms

  • Surety — The guarantee of the debts of one party by another. A surety is the organization or person that assumes the responsibility of paying the debt in case the debtor policy defaults or is unable to make the payments. The party that guarantees the debt …   Investment dictionary


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